Skyharbour Resources Ltd.
TSX VENTURE : SYH

Skyharbour Resources Ltd.

March 01, 2011 14:45 ET

Incentive Stock Options Cancelled and Skyharbour's Interest in Broulan Reef Diluted to 15.67%

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Skyharbour Resources Ltd. (TSX VENTURE:SYH) (the "Company") announces that following its 10 old for 1 new share consolidation, the Company it has cancelled 918,987 post consolidated stock options previously granted to its directors, officers, consultants and management company employees.

The Company also announces it has agreed with its joint venture partner, Cypress Development Corp. (TSX VENTURE:CYP) ("Cypress"), to a dilution of its interest in the Broulan Reef gold property located in the Red Lake District, Ontario, from a 17.5% interest to a 15.67% in lieu of outstanding property expenditures of $218,562. Following the dilution, Cypress will hold a 84.33% in Broulan Reef property.

About Skyharbour Resources Ltd.:

Skyharbour Resources Ltd. is a gold and base metal exploration company developing projects in the Red Lake district of northwestern Ontario, Canada.

To find out more about Skyharbour Resources Ltd. (TSX VENTURE:SYH), visit the Company's website at www.skyharbourltd.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Donald C. Huston, President

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

Contact Information

  • Skyharbour Resources Inc.
    Donald C. Huston
    President
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    or
    Skyharbour Resources Inc.
    Don Myers
    Director
    604-687-3376 or Toll Free: 800-567-8181
    604-687-3119 (FAX)
    info@skyharbourltd.com
    www.skyharbourltd.com